The IMF raised growth forecasts for China, India and Europe, while lowering them for U.S. and Japan.
The International Monetary Fund (IMF) raised its economic growth forecasts for China, India and Europe on July 16 while slightly reducing its outlook for the U.S. and Japan.
The global economy is expected to grow 3.2% this year, unchanged from April’s IMF forecast and slightly down from 3.3% in 2023.
IMF’s Chief Economist Pierre-Olivier Gourinchas highlighted the role of China and India, which are projected to account for nearly half of this year’s global growth. The IMF upgraded China’s growth forecast to 5% from 4.6% due to a surge in exports early in 2024, despite a slowdown in the second quarter.
The IMF noted that persistent inflation in services, such as airline travel and restaurant meals is hindering process against prices
For more detailed information, view the full report here.
Related Posts
-
Using charts from our 4Q23 Baird-MDM Survey conducted in the first half of January, we…
-
The distributor saw healthy 4Q organic growth, too, with comparable sales up 5.1% excluding GIC’s…
-
MSC cited complexities in its web pricing realignment rollout as hurting March-May results, alongside weakness…
Share this article
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
Leave a Comment
You must be logged in to post a comment.